The launchpad that's secretly a bank. Teams don't get paid from the liquidity — they borrow against it. Crossed V3 bands become ETH collateral; trading fees repay the loan. Chart impact of the team accessing money: exactly zero, both directions.
When the market pushes price through a V3 range, that range becomes pure ETH sitting in an immutable contract. So we treat it like what it is: collateral.
Same laddered launch as SUMMIT. Crossed bands convert to ETH — principal stays in the position, never withdrawn.
After a 72h TWAP hold, the band's ETH value is registered as collateral. Longer window than vesting — credit is riskier.
Teams borrow up to 50% LTV from the shared ERC-4626 vault. The ETH moves; the liquidity doesn't.
Anyone pokes collectAndService(). Trading fees waterfall interest → principal → team. A token that trades pays its own loan.
LPs supply the KEEP Vault and earn interest from real borrowers — secured by ETH-denominated V3 positions plus first claim on fee streams. Per-launch caps mean one dead token can't touch your principal.
Collateral value = the WETH amount inside crossed bands only. No token-side collateral, no price feed to game. That's what makes the credit clean — and what keeps the vault solvent when a token round-trips to zero.
collateral = Σ MIN(wethNow, wethAtRegistration)
If price falls back into a collateral band, its ETH value drops and borrowing capacity shrinks. KEEP fires a margin-call event with a 24h grace period — not an instant liquidation.
If health stays below 1 past grace, anyone can liquidate — withdrawing the exact band WETH needed to repay the vault plus a 5% bonus. The remaining liquidity is never touched.
Contracts in build · fork-tested retrace + liquidation suite shipping to testnet
Liquidity is the collateral. Real borrowers, real ETH, per-launch isolation.
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